Apple tries to recoup some losses - Analysis - 16-06-2022

Economies.com
7 months ago

Apple's stock (AAPL) rose in the intraday levels after announcing the US football season will be exclusively available on Apple TV starting 2023 in a 10-day deal valued at $250 million, with the stock marking a profit of 2.01%, or 2.67 points, settling at 135.43, with trading volumes surpassing 91.5 billion shares, above 10-day averages of 81.3 million shares. 

 

The stock is trying to recoup some losses while venting off oversold saturation from the RSI, amid the dominance of the downward correctional short-term trend, with negative pressure from the 50-day SMA. 

 

Therefore we expect the stock to return lower, targeting the support of 132.60, provided the resistance of 157.26 holds on.

 

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Expected trend for today: Bearish 

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